Varian Medical Systems Announces 5% Fall In Q1 Earnings

(RTTNews) - Varian Medical Systems (VAR) reported a profit for first quarter that decreased from last year.

The company said its bottom line came in at $97.2 million, or $0.99 per share. This was lower than $102.4 million, or $1.01 per share, in last year's first quarter.

Analysts had expected the company to earn $0.94 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 2.6% to $757.1 million. This was up from $737.9 million last year.

Varian Medical Systems earnings at a glance:

-Earnings (Q1): $97.2 Mln. vs. $102.4 Mln. last year. -Earnings Decline (Y-o-Y): -5.1% -EPS (Q1): $0.99 vs. $1.01 last year. -EPS Decline (Y-o-Y): -2.0% -Analysts Estimate: $0.94 -Revenue (Q1): $757.1 Mln vs. $737.9 Mln last year. -Revenue Change (Y-o-Y): 2.6%

-Guidance: Next quarter EPS guidance: $1.06 - $1.10 Full year EPS guidance: $4.55 - $4.65